VRX Reports 2011 First Quarter Results
29 Giugno 2011 - 10:38PM
Marketwired
VRX Worldwide Inc. (TSX VENTURE: VRW) -
-- Profit Trend Continues with 10th Consecutive Profitable Quarter
-- MediaValet gaining momentum, recently covered in Globe & Mail and
Toronto Star
-- Gross margin improves to 69%
VRX Worldwide Inc., a leading provider of content production,
distribution, licensing and digital asset management services, is
pleased to report it's financial results for the first quarter
ended March 31, 2011.
Summary of Quarterly Results (Unaudited)
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2011 Q1 2010 Q4 2010 Q3 2010 Q2 2010 Q1
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Total revenue $ 907,477 $ 917,190 $ 1,008,181 $ 1,027,718 $ 1,076,558
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Gross profit $ 622,413 $ 556,395 $ 613,210 $ 647,677 $ 728,520
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EBITDA $ 108,828 $ 99,150 $ 173,448 $ 160,476 $ 158,645
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Net income 19,623 15,140 $ 80,978 $ 91,168 $ 87,722
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Earnings per share $ 0.001 $ 0.000 $ 0.002 $ 0.003 $ 0.003
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Total assets $ 1,535,032 $ 1,251,438 $ 1,395,468 $ 1,310,939 $ 1,326,653
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Total revenue decreased $9,713 (1%) from the fourth quarter of
2010 and $169,081 (16%) quarter over quarter. This decrease in
revenue, over both quarters, is due to the effects of the prolonged
global downturn, unusually harsh weather conditions in the
beginning of 2011 and a weaker US dollar.
Despite the drop in revenue, EBITDA and net income increased by
$9,678 (10%) and $4,483 (30%), respectively, over the fourth
quarter of 2011 due to our continued focus on reducing costs and
refining our production processes. EBITDA and Net income decreased
by $49,817 (31%) and $68,099 (78%), respectively, over the first
quarter of 2010 primarily as a result of a drop in service work and
a weaker US dollar.
"While continuing to improve the efficiencies of our core
operations, we remain focused on continuing to raise the quality of
our existing services, expanding our customer base and investing in
new opportunities," commented David MacLaren, President and CEO of
VRX. "Our latest service offering, MediaValet™, the world's first
100% cloud-based digital asset management system, will benefit our
existing travel and hospitality customers as well as companies, of
all sizes and industries, that are amassing large quantities of
digital assets."
The full financial statements and related MD&A are now
available on the Company's website (www.vrxworldwide.com) and on
SEDAR (www.sedar.com).
ABOUT VRX
Through a decade of growth, innovation and an unwavering
commitment to quality, consistency and customer service, VRX is one
of the world's leading providers of content production,
distribution, licensing and digital asset management services. To
find out more about VRX, its products and services, visit
www.vrxstudios.com and www.mediavalet.co. VRX Studios Inc. is a
wholly owned subsidiary of VRX Worldwide Inc. (TSX VENTURE: VRW)
(www.vrxworldwide.com).
VRX Worldwide Inc.
David MacLaren, David MacLaren, CEO
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
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Contacts: VRX Worldwide Inc. Investor & Public Relations
1-888-605-0059 info@vrxworldwide.com www.vrxworldwide.com
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